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Escrow
Procedure
Monitoring
escrow
Disclosures
Inspections
Renegotiating
when necessary
Final
Walk through
Close
of escrow
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Disclosures
By
walking through the property, you can visually see the condition
of the property. Test the light switches, look over the walls,
the exterior of the house, test the water faucets and so on.
But
it is also very import that you know about what you
can’t see, and perhaps things that have happened in the past
regarding the property. The seller is usually obligated to
provide disclosures regarding the condition of the property
(past and present), Like what kind of natural hazard zone the
property is in (flood, fire, earthquake etc.), and if it’s a
condominium, documentation regarding the homeowner’s
association. And there may also be other disclosures required in
the area the home is in.
Most
disclosures are automatically required per contract. This is the
contract that you wrote your offer on. Your agent will make sure
that all necessary disclosures are provided and done within the
time period required. This is very important because you want to
have time to review and approve these documents. And if there is
something you don’t approve, you’ll need to reach some sort
of agreement with the seller or cancel the agreement and escrow.
If
you have any questions, Please call
1-866-OC-House
© 2010 OC Home Finder Team.com - All rights reserved.
Written
By Shan Roberts
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